RBC Capital lowered the firm’s price target on Surgery Partners (SGRY) to $20 from $31 and keeps an Outperform rating on the shares. The company’s 2026 guidance came in softer-than-anticipated, but several items impacted comparisons to consensus estimates, including the exclusion of anticipated M&A, the analyst tells investors in a research note. M&A remains a key component of Surgery Partners’ growth strategy, with any completed acquisitions providing upside to management’s initial 2026 guidance, the firm adds.
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